Stephen Oliver QC

Decision released 26 January 2005

Inheritance tax – Settled property – Interest in possession – Will, as substituted by a deed of family arrangement, directed that trustees should not require rent from close company in respect of its occupation of property comprised in trust fund – Testator’s widow had life interest in trust fund – Whether that direction conferred an interest in possession on the company – Yes – Whether widow had interest in possession – No – IHTA 1984, s.49(1)

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